Fly Ash Sale Receipts Taxable as Accounting Treatment Cannot Override Tax Law: ITAT Chandigarh

ACIT Vs Haryana Power Generation Corporation Limited (ITAT Chandigarh) ITAT Holds Fly Ash Sale Receipts Taxable as Accounting Treatment Cannot Override Tax Law; Fly Ash Fund Not a Shield Against Tax Because No Diversion of Income at Source; ITAT Restores ₹38.68 Crore Addition Because Accounting Treatment Cannot Override Tax Law; Sale of Fly Ash Held Taxable Because It Was Intrinsically Linked to Power Generation Business; ITAT Rejects Liability Argument Because Assessee Retained Control Over Fly Ash Fund; Government Notification on Fly Ash Utilisation Does Not Exempt Receipts From Ta...